Ethereum is a super-adaptable platform that transforms how whole industries work with its programmable smart contractsA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... More.

Here are the basics:

Ethereum is a network of computers (nodes) that run on the same protocol. This global network – called a blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More – securely stores transactions that everyone can see instantly.

What makes Ethereum stand out are smart contractsA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... More – programs that automatically run transactions when certain conditions are met.

Ether (ETH) is used to pay for computation and token swaps on Ethereum. Users “fuel” smart contractsA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... More and DApps with ETH.

Being decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... More means no single entity controls Ethereum – the open-source software runs on nodes worldwide. This makes it appealing for developers and businesses.

In 2022, Ethereum upgraded from “proof-of-work” to “proof-of-stake.” Now validators have to lock up ETH to validate transactions, losing ETH for any dishonesty. This secures the network.

Users interact with Ethereum through digital wallets that store ETH and keys for transactions.